Healthy Weight Can Lower Your Health Insurance Costs

Being overweight or underweight can impact premiums for health insurance. The reason is that insurance companies assess your body mass index (BMI) to assess your current health condition.

“Obesity or malnourishment may lead an individual to higher risks, which means that there is a greater possibility of having chronic illnesses such as heart disease, diabetes, and high blood pressure, which results in higher medical costs. These are lifestyle-based conditions that generally demand longer medical attention. In some situations, extremely high or low BMI may result in limited coverage,” says Bhaskar Nerurkar, head- health administration team, Bajaj Allianz General Insurance. 

BMI Thresholds And Health Risks

Some insurance companies check BMI through medical evaluation; however, in health insurance policies, being overweight and underweight will not lead to higher premiums until it involves cover such as critical illness. There is no threshold to trigger higher premiums in health insurance, and each insurer may have its own underwriting rules.  

However, typically a BMI over 30 comes under the obese range, and under 18.5 comes under the underweight range. “Generally, such customers are required to take additional medical tests to evaluate their current health status. Customers with some additional complications who come under the categories may see higher premiums or some exclusions in their health insurance policy,” says Nerukar. 

Incentives For Maintaining A Healthy Weight

Yes, some insurance companies offer discounts on health insurance premiums when you improve your weight or other physical parameters over time. Being overweight or underweight increases the risk of the policyholders developing various lifestyle-related medical conditions. By maintaining a healthy weight, policyholders can reduce the associated health risks, which can lead to lower insurance premiums. “If over time, you can bring your weight into a more healthy range (through healthy lifestyle changes such as a more healthful diet and exercise), you may be able to negotiate a better premium level at the time of renewal, or when you next have a health check-up,” says Kunal Varma, CEO and co-founder, Freo. 

Now, multiple policies promote wellness benefits. With such initiatives, policyholders who participate in weight loss programs, annual health check-ups, walk 10,000 steps a day, or meet specific health goals can get discounts on their health insurance premiums. 

By maintaining a healthy weight, you can prevent a lot of medical conditions, leading to fewer doctor visits or medical expenses. “Lower medical costs or lowering the chances of a policyholder coming under the risk category will result in a higher chance of lower insurance premiums over time. However, it is essential to understand that reductions of the premium depend on the insurer to insurer and the plan you opt for,” says Nerukar.